HOUSTON, July 22, 2019 (GLOBE NEWSWIRE) -- Blue Mountain Midstream LLC (“Blue Mountain”), a wholly owned subsidiary of Riviera Resources, Inc. (OTCQX: RVRA), announced today its subsidiaries Wildcat Oil Gathering LLC (“Wildcat Oil Gathering”) and Wildcat Water Gathering LLC (“Wildcat Water Gathering”) have launched an Open Season for new systems and services in central Oklahoma.
Blue Mountain has initiated construction of new crude oil and produced water gathering infrastructure serving Roan Resources. The initial crude oil gathering facilities will consist of approximately 50 miles of pipeline, primarily contained within the dedicated area of nine contiguous Townships in Canadian and Grady Counties to be placed into service in phases starting in the fourth quarter of 2019. Blue Mountain has also executed connection agreements with Navigator SMS Pipeline LLC, which will allow Wildcat Oil Gathering to deliver gathered crude oil to Navigator’s Glass Mountain Pipeline via Navigator’s Tuttle and Union City Stations, which are currently under-construction.
The initial water gathering facilities will consist of approximately 100 miles of water pipeline contained within the dedication area of a contiguous 67 Townships covering portions of seven Oklahoma Counties. Produced water will be directed to treatment facilities for reuse or to Wildcat Water Gathering owned and operated saltwater disposal wells, as well as third-party disposal wells.
The Open Season provides prospective customers the opportunity to secure pipe-gathering capacity at competitive fees. The Open Season jointly offers crude oil and produced water services; however, producers can participate in either or both at their election. Subject to the outcome of this Open Season and future producer commitments, Blue Mountain will construct pipeline segments extending to producers’ production and can expand the systems over time to connect to additional production.
Greg Harper, President and CEO of Blue Mountain, said, “Blue Mountain is pleased to host the Open Season as we continue to expand our existing Merge asset footprint and grow our fee-based business with new customers. We are very pleased with our growth opportunities and are equally pleased that this new infrastructure positively impacts the community by reducing high volume trucking associated with Oklahoma’s oil production.”
Producers interested in securing more information can send requests to openseason@bmtnm.com.
ABOUT BLUE MOUNTAIN MIDSTREAM
Headquartered in Houston, Texas, Blue Mountain is a full-service midstream company offering gathering, compression, processing, treating, transportation and marketing services to oil and gas producers in the Merge/SCOOP/STACK plays. Operations are primarily focused on production from the Woodford and Mississippian formations and the core Merge Shale trend in central Oklahoma. Blue Mountain is a wholly owned subsidiary of Riviera Resources, Inc.
ABOUT RIVIERA RESOURCES
Riviera Resources, Inc. is an independent oil and natural gas company with a strategic focus on efficiently operating its mature low-decline assets, developing its growth-oriented assets, and returning capital to its stockholders. Riviera’s properties are located in the Hugoton Basin, East Texas, North Louisiana, the Uinta Basin and Mid-Continent regions. Riviera also owns Blue Mountain Midstream LLC, a midstream company centered in the core of the Merge play in the Anadarko Basin.
Disclaimer
This notification together with any and all documents related to the open season is provided for informational purposes only. Notwithstanding anything contained herein to the contrary, this notification, any related agreements and any other documents related to the open season are not intended to constitute, nor shall they be construed to constitute, an offer or any binding obligation whatsoever on Blue Mountain until Blue Mountain has countersigned and delivered a fully executed definitive agreement to an interested party. Blue Mountain reserves the right, in its sole discretion, to modify, terminate or extend the open season, in whole or in part, at any time and without advance notice, including without limitation, any ensuing discussions with any recipient of any documents related to the open season. Blue Mountain further reserves the right to modify or supplement any of the documents associated with the open season without notice.
Under no circumstances shall Blue Mountain or any of its members or any of its or their affiliated companies or any of its or their respective directors, officers, employees, agents, attorneys, advisers and representatives be responsible for any costs or expenses incurred by any recipient of any documents associated with the open season or any other liability incurred by any such recipient in connection with any investigation or evaluation of the Wildcat Oil Gathering and Wildcat Water Gathering projects.
Forward-Looking Statements
Statements made in this press release that are not historical facts are “forward-looking statements.” These statements are based on certain assumptions and expectations made by Riviera Resources, Inc. (“Riviera”) which reflect management’s experience, estimates and perception of historical trends, current conditions, and anticipated future developments. These statements include, among others, statements regarding business strategy and other plans and objectives for future operations. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Riviera, which may cause actual results to differ materially from those implied or anticipated in the forward-looking statements. These include risks relating to the Riviera’s financial and operational performance and results, low or declining commodity prices and demand for oil, natural gas and natural gas liquids, ability to hedge future production, ability to replace reserves and efficiently develop current reserves, the capacity and utilization of midstream facilities and the regulatory environment. These and other important factors could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Please read “Risk Factors” in Riviera’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings. Riviera undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information or future events.